Neutral Bay apartment sells under the hammer for record price

The two-bedroom apartment was listed with David Buttelof Raine & Horne Neutral Bay, and sold at auction for well above the reserve.

”The apartment had been marketed with a price guide of $1.5 million to $1.6 million, and the reserve price at the auction was set at the lower end of this range,”

“This was a record price for this building which includes both two and three bedroom apartments.”

Open-plan interiors offer panoramic city skyline and harbour views.

Mr Buttel said the heated auction was over in a matter of minutes, as five bidders fought for the home.

“After 19 bids the property was sold to an owner-occupier from the lower north shore,” he said.

“The property also attracted high interest from investors, which highlights the strong investor activity in the local market.”

The top floor apartment sold in a matter of minutes for $1.75 million.

Showcasing top floor panoramic harbour views, the apartment features renovated interiors, and offers 109sq m of living space.Additional features include a covered balcony, a lock-up storage area, and under cover parking for two cars.

CoreLogic data shows the median Neutral Bay unit price of $868,000 has increased by 48.4 per cent over the past five years.

Disclaimer: The information published in this section is of a
general nature only and does not consider your personal objectives, financial
situation or particular needs. Where indicated, third parties have written and
supplied the content and we are not responsible for it. We make no warranty as
to the accuracy, completeness or reliability of the information, nor do we
accept any liability or responsibility arising in any way from omissions or
errors contained in the content. We do not recommend sponsored lenders or loan
products and we cannot introduce you to sponsored lenders. We strongly
recommend that you obtain independent advice before you act on the content.